The Draft Law on Amendments in the Bankruptcy and Enforcement Law and Certain Other Laws for the Improvement of the Investment Environment of Turkey was adopted by the General Assembly

With the draft law; significant changes has been made in many laws, including the Bankruptcy and Enforcement Law, the Turkish Commercial Code, Code of Civil Procedure, the International Arbitration Law, the Notification Law, the Tax Procedure Law and the Industrial Property Law.

The amendment in the Turkish Arbitration Legislation aims to solve the problems that arise from the uncertainties about the competent court in the arbitration proceedings.

According to the amendment, when a court decision is required during the arbitration proceedings, the courts of first instance or the commercial courts of first instance becomes competent according to the nature of the dispute. However, it is stated that the district court of justice is the competent court regarding the cases of annulment of the final arbitral awards.

An Easy Way for the Apostille Procedure: Electronic Apostille

According to the draft, an electronic apostil system is envisaged to speed up the apostille proceedings. E-signed apostille will be given in the electronic environment. It is stated, a specific code written on the E-Apostil can be inquired from the Ministry's web site for confirming the reality and validity of the apostille.

Scope of Obligation of Electronic Notification is Expanded

The scope of the obligatory electronic notification has been enlarged with the amendment. According to the amendment, the electronic notification is become obligatory for the notifications that is made to all public institutions and organizations, municipalities, companies, cooperatives, associations, foundations, trade unions, professional associations, public economic enterprises, lawyers, notaries, experts, mediators.